Genesis Energy (NYSE:GEL) had its target price hoisted by Barclays from $24.00 to $25.00 in a report issued on Friday morning. Barclays currently has an equal weight rating on the pipeline company’s stock.
Several other brokerages have also weighed in on GEL. Zacks Investment Research lowered Genesis Energy from a hold rating to a strong sell rating in a research report on Friday, August 10th. Robert W. Baird lowered Genesis Energy from an outperform rating to a neutral rating and set a $29.00 price objective for the company. in a research report on Tuesday, September 4th. UBS Group raised their price target on Genesis Energy from $32.00 to $33.00 and gave the stock a buy rating in a research report on Thursday, August 30th. Raymond James restated a buy rating on shares of Genesis Energy in a research report on Monday, August 13th. Finally, ValuEngine upgraded Genesis Energy from a sell rating to a hold rating in a research report on Monday, August 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $28.67.
Shares of NYSE:GEL traded up $0.10 during midday trading on Friday, hitting $24.42. The company had a trading volume of 655,326 shares, compared to its average volume of 643,392. Genesis Energy has a twelve month low of $18.42 and a twelve month high of $25.87. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.26 and a current ratio of 1.50. The stock has a market cap of $2.91 billion, a PE ratio of 23.04 and a beta of 1.24.
Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Wednesday, August 8th. The pipeline company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.22). The company had revenue of $752.39 million during the quarter, compared to analyst estimates of $729.72 million. Genesis Energy had a net margin of 1.52% and a return on equity of 7.32%. Genesis Energy’s revenue for the quarter was up 85.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. As a group, analysts predict that Genesis Energy will post 0.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be paid a $0.54 dividend. This is a boost from Genesis Energy’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 8.85%. The ex-dividend date of this dividend is Tuesday, October 30th. Genesis Energy’s dividend payout ratio (DPR) is presently 200.00%.
In other Genesis Energy news, VP Garland G. Gaspard purchased 1,247 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were bought at an average cost of $24.07 per share, for a total transaction of $30,015.29. Following the completion of the purchase, the vice president now directly owns 1,247 shares in the company, valued at $30,015.29. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of GEL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Genesis Energy in the second quarter valued at $44,868,000. Chickasaw Capital Management LLC increased its position in shares of Genesis Energy by 6.8% during the second quarter. Chickasaw Capital Management LLC now owns 13,294,227 shares of the pipeline company’s stock worth $291,277,000 after purchasing an additional 844,823 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Genesis Energy by 3.1% during the second quarter. OppenheimerFunds Inc. now owns 16,689,722 shares of the pipeline company’s stock worth $365,672,000 after purchasing an additional 498,828 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Genesis Energy by 5.8% during the second quarter. Alps Advisors Inc. now owns 9,067,271 shares of the pipeline company’s stock worth $198,664,000 after purchasing an additional 498,557 shares in the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of Genesis Energy during the second quarter worth about $10,398,000. Institutional investors own 73.96% of the company’s stock.
About Genesis Energy
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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